Shares rise…G-20 leaders converge…Huawei warning
SINGAPORE (AP) – World stocks advanced Thursday ahead of a planned meeting between President Donald Trump and Chinese leader Xi Jinping at the G-20 summit in Japan this week. Futures point to opening gains on Wall Street. Benchmark U.S. crude oil fell just below $59 a barrel. The dollar rose against the yen and the euro.
OSAKA, Japan (AP) – Trade and geopolitical tensions, and the looming threat of climate change, are on the agenda as Chinese President Xi Jinping and other world leaders gather in Osaka, Japan, for a summit of the Group of 20 major economies. While prospects for detente in the trade war between the United States and China are in the spotlight, many participating are calling for a broader perspective in tackling many global crises.
SHENZHEN, China (AP) – Chinese tech giant Huawei warned Thursday a U.S. senator’s proposal to block the company from pursuing damages in patent courts would be a “catastrophe for global innovation.” The proposal comes amid mounting U.S. action against Huawei, the biggest maker of switching gear for phone carriers. The company has been devastated by the Trump administration’s decision to impose restrictions on its access to American chips for smartphones and other components and technology.
UNDATED (AP) – A new software problem has been found in the troubled Boeing 737 Max that could push the plane’s nose down automatically, and fixing the flaw is almost certain to further delay the plane’s return to flying after two deadly crashes. Boeing said Wednesday that the FAA “identified an additional requirement” for software changes that the aircraft manufacturer has been working on for eight months, since shortly after the first crash. Boeing says it agrees with the FAA.
ROME (AP) – It’s been called the Italian “green gold rush.” Mild, barely there marijuana dubbed “cannabis light” has put Italy on the international weed map, producing hundreds of stores that sell pot by the pouch and attention from investors banking the legalization of stronger stuff will follow. The flourishing retail industry around cannabis light – weed so non-buzzy, it’s essentially the decaf coffee of marijuana – surfaced as an unintended by-product of a law meant to restore Italy as a top producer of industrial hemp.